Forrester Research (FORR) 10-Q 9 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 05, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	FORR
Entity Registrant Name	FORRESTER RESEARCH, INC.
Entity Central Index Key	1,023,313
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		17,738,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 74,176	$ 76,958
Marketable investments (Note 3)	60,417	61,147
Accounts receivable, net	55,029	58,812
Deferred commissions	12,287	12,052
Prepaid expenses and other current assets	14,312	14,467
Total current assets	216,221	223,436
Property and equipment, net	23,413	23,894
Goodwill	73,552	73,193
Intangible assets, net	1,280	1,464
Other assets	13,336	13,798
Total assets	327,802	335,785
Current Liabilities:
Accounts payable	328	1,806
Accrued expenses and other current liabilities	29,779	41,403
Deferred revenue	156,256	134,265
Total current liabilities	186,363	177,474
Non-current liabilities	8,188	8,275
Total liabilities	194,551	185,749
Stockholders' Equity (Note 7):
Preferred stock, $0.01 par value Authorized - 500 shares, issued and outstanding - none
Common stock, $0.01 par value Authorized - 125,000 shares Issued - 21,809 and 21,719 shares as of March 31, 2017 and December 31, 2016, respectively Outstanding - 17,883 and 18,361 shares as of March 31, 2017 and December 31, 2016, respectively	218	217
Additional paid-in capital	162,159	157,569
Retained earnings	121,069	121,799
Treasury stock - 3,926 and 3,358 shares as of March 31, 2017 and December 31, 2016, respectively, at cost	(143,429)	(121,976)
Accumulated other comprehensive loss	(6,766)	(7,573)
Total stockholders’ equity	133,251	150,036
Total liabilities and stockholders’ equity	$ 327,802	$ 335,785

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	500,000	500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	125,000,000	125,000,000
Common stock, shares issued	21,809,000	21,719,000
Common stock, shares outstanding	17,883,000	18,361,000
Treasury stock, shares	3,926,000	3,358,000

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenues:
Research services	$ 51,743	$ 53,248
Advisory services and events	25,451	24,153
Total revenues	77,194	77,401
Operating expenses:
Cost of services and fulfillment	31,396	31,123
Selling and marketing	30,622	30,404
General and administrative	10,170	9,973
Depreciation	1,679	1,965
Amortization of intangible assets	191	209
Reorganization costs		1,015
Total operating expenses	74,058	74,689
Income from operations	3,136	2,712
Other income (expense), net	9	(328)
Losses on investments, net	(203)
Income before income taxes	2,942	2,384
Income tax provision (benefit)	(88)	1,095
Net income	$ 3,030	$ 1,289
Basic income per common share	$ 0.17	$ 0.07
Diluted income per common share	$ 0.16	$ 0.07
Basic weighted average common shares outstanding	18,230	17,762
Diluted weighted average common shares outstanding	18,536	17,925
Cash dividends declared per common share	$ 0.19	$ 0.18

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 3,030	$ 1,289
Other comprehensive income, net of taxes:
Foreign currency translation	790	1,481
Net change in market value of investments	17	117
Other comprehensive income	807	1,598
Comprehensive income	$ 3,837	$ 2,887

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net income	$ 3,030	$ 1,289
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	1,679	1,965
Amortization of intangible assets	191	209
Net losses from investments	203
Deferred income taxes	(257)	(177)
Stock-based compensation	2,049	2,135
Amortization of premium on investments	61	107
Foreign currency losses	215	464
Changes in assets and liabilities
Accounts receivable	3,839	18,138
Deferred commissions	(235)	213
Prepaid expenses and other current assets	138	(2,987)
Accounts payable	(1,485)	763
Accrued expenses and other liabilities	(11,512)	(14,125)
Deferred revenue	21,538	13,582
Net cash provided by operating activities	19,454	21,576
Cash flows from investing activities:
Purchases of property and equipment	(1,540)	(1,144)
Purchases of marketable investments	(11,503)	(2,206)
Proceeds from sales and maturities of marketable investments	12,200	8,710
Other investing activity	184	(20)
Net cash provided by (used in) investing activities	(659)	5,340
Cash flows from financing activities:
Dividends paid on common stock	(3,462)	(3,201)
Repurchases of common stock	(21,453)
Proceeds from issuance of common stock under employee equity incentive plans	2,723	1,182
Taxes paid related to net share settlements of stock-based compensation awards	(56)	(25)
Net cash used in financing activities	(22,248)	(2,044)
Effect of exchange rate changes on cash and cash equivalents	671	451
Net increase (decrease) in cash and cash equivalents	(2,782)	25,323
Cash and cash equivalents, beginning of period	76,958	53,331
Cash and cash equivalents, end of period	$ 74,176	$ 78,654

Interim Consolidated Financial

Interim Consolidated Financial Statements	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Interim Consolidated Financial Statements	Note 1 — Interim Consolidated Financial Statements Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for reporting on Form 10-Q. Accordingly, certain information and footnote disclosures required for complete financial statements are not included herein. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. It is recommended that these financial statements be read in conjunction with the consolidated financial statements and related notes that appear in the Forrester Research, Inc. (“Forrester”) Annual Report on Form 10-K for the year ended December 31, 2016. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of the financial position, results of operations, comprehensive income and cash flows as of the dates and for the periods presented have been included. The results of operations for the three months ended March 31, 2017 may not be indicative of the results for the year ending December 31, 2017, or any other period. Fair Value Measurements The carrying amounts reflected in the Consolidated Balance Sheets for cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term maturities. See Note 3 – Marketable Investments - for the fair value of the Company’s marketable investments. Adoption of New Accounting Pronouncements The Company adopted the guidance in Accounting Standards Update ("ASU") No. 2016-09, Compensation - Stock Compensation Improvements to Employee Share-Based Payment Accounting Additionally, ASU No. 2016-09 requires that all income tax effects related to settlements of share-based payment awards be reported in earnings as an increase or decrease to income tax expense (benefit). Previously, income tax benefits at settlement of an award were reported as an increase (or decrease) to additional paid-in capital to the extent that those benefits were greater than (or less than) the income tax benefits reported in earnings during the award's vesting period. The requirement to report those income tax effects in earnings has been applied on a prospective basis to settlements occurring on or after January 1, 2017, and the impact of applying this guidance was not material to the consolidated financial statements for the three months ended March 31, 2017. Application of this guidance may result in fluctuations in the Company’s effective tax rate depending on how many options are exercised, how many restricted stock units vest and the volatility of the Company’s stock price. ASU 2016-09 also requires that all income tax-related cash flows resulting from share-based payments be reported as operating activities in the statement of cash flows. Previously, income tax benefits at settlement of an award were reported as a reduction to operating cash flows and an increase to financing cash flows to the extent that those benefits exceeded the income tax benefits reported in earnings during the award's vesting period. In addition, the standard requires that cash paid by directly withholding shares for tax withholding purposes be classified as a financing activity in the statement of cash flows. For the three months ended March 31, 2017, the Company reflected $0.1 million of tax withholding in financing activities. resulting in an increase in operating cash flows, with a corresponding decrease in financing cash flows, of $39,000 for the three months ended March 31, 2016, The Company elected to early adopt the guidance in ASU No. 2016-16, Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Note 2 — Accumulated Other Comprehensive Income (Loss) The components of accumulated other comprehensive income (loss) are as follows (in thousands): Total Net Unrealized Cumulative Accumulated (Loss) on Marketable Translation Other Comprehensive Investments Adjustment Income (Loss) Balance at January 1, 2017 $ (83 ) $ (7,490 ) $ (7,573 ) Foreign currency translation — 790 790 Unrealized gain on investments, net of tax of $11 17 — 17 Balance at March 31, 2017 $ (66 ) $ (6,700 ) $ (6,766 ) Total Net Unrealized Gain Cumulative Accumulated (Loss) on Marketable Translation Other Comprehensive Investments Adjustment Income (Loss) Balance at January 1, 2016 $ (100 ) $ (4,726 ) $ (4,826 ) Foreign currency translation — 1,481 1,481 Unrealized gain on investments, net of tax of $76 117 — 117 Balance at March 31, 2016 $ 17 $ (3,245 ) $ (3,228 )

Marketable Investments

Marketable Investments	3 Months Ended
	Mar. 31, 2017
Investments Debt And Equity Securities [Abstract]
Marketable Investments	Note 3 — Marketable Investments The following table summarizes the Company’s marketable investments (in thousands): As of March 31, 2017 Gross Gross Amortized Unrealized Unrealized Market Cost Gains Losses Value Federal agency obligations $ 1,800 $ — $ (5 ) $ 1,795 Corporate obligations 58,723 1 (102 ) 58,622 Total $ 60,523 $ 1 $ (107 ) $ 60,417 As of December 31, 2016 Gross Gross Amortized Unrealized Unrealized Market Cost Gains Losses Value Federal agency obligations $ 1,800 $ — $ (7 ) $ 1,793 Corporate obligations 59,481 2 (129 ) 59,354 Total $ 61,281 $ 2 $ (136 ) $ 61,147 Realized gains and losses on investments are included in earnings and are determined using the specific identification method. Realized gains or losses on the sale of the Company’s marketable investments were not material in the three months ended March 31, 2017 or 2016. The following table summarizes the maturity periods of the marketable investments in the Company’s portfolio as of March 31, 2017 (in thousands). FY 2017 FY 2018 FY 2019 Total Federal agency obligations $ — $ 1,795 $ — $ 1,795 Corporate obligations 24,934 28,937 4,751 58,622 Total $ 24,934 $ 30,732 $ 4,751 $ 60,417 The following table shows the gross unrealized losses and market value of Forrester’s available-for-sale securities with unrealized losses that are not deemed to be other-than-temporary, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): As of March 31, 2017 Less Than 12 Months 12 Months or Greater Market Unrealized Market Unrealized Value Losses Value Losses Federal agency obligations $ 1,795 $ 5 $ — $ — Corporate obligations 53,880 101 1,000 1 Total $ 55,675 $ 106 $ 1,000 $ 1 As of December 31, 2016 Less Than 12 Months 12 Months or Greater Market Unrealized Market Unrealized Value Losses Value Losses Federal agency obligations $ 1,793 $ 7 $ — $ — Corporate obligations 53,647 129 — — Total $ 55,440 $ 136 $ — $ — Fair Value The Company measures certain financial assets at fair value on a recurring basis, including cash equivalents and available-for-sale securities. The fair values of these financial assets have been classified as Level 1, 2 or 3 within the fair value hierarchy as described in the accounting standards for fair value measurements. Level 1 — Fair value based on quoted prices in active markets for identical assets or liabilities. Level 2 — Fair value based on inputs other than Level 1 inputs that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 — Fair value based on unobservable inputs that are supported by little or no market activity and such inputs are significant to the fair value of the assets or liabilities. The following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and investments) measured at fair value on a recurring basis (in thousands): As of March 31, 2017 Level 1 Level 2 Level 3 Total Money market funds (1) $ 3,904 $ — $ — $ 3,904 Federal agency obligations — 1,795 — 1,795 Corporate obligations — 58,622 — 58,622 Total $ 3,904 $ 60,417 $ — $ 64,321 As of December 31, 2016 Level 1 Level 2 Level 3 Total Money market funds (1) $ 2,522 $ — $ — $ 2,522 Federal agency obligations — 1,793 — 1,793 Corporate obligations — 59,354 — 59,354 Total $ 2,522 $ 61,147 $ — $ 63,669 (1) Included in cash and cash equivalents. Level 2 assets consist of the Company’s entire portfolio of marketable investments. Level 2 assets have been initially valued at the transaction price and subsequently valued, at the end of each reporting period, typically utilizing third party pricing services or other market observable data. The pricing services utilize industry standard valuation methods, including both income and market based approaches and observable market inputs to determine value. These observable market inputs include reportable trades, benchmark yields, credit spreads, broker/dealer quotes, bids, offers, current spot rates and other industry and economic events.

Non-Marketable Investments

Non-Marketable Investments	3 Months Ended
	Mar. 31, 2017
Investments Debt And Equity Securities [Abstract]
Non-Marketable Investments	Note 4 — Non-Marketable Investments At March 31, 2017 and December 31, 2016, the carrying value of the Company’s non-marketable investments, which were composed primarily of interests in technology-related private equity funds, was $2.3 million and $2.8 million, respectively, and is included in other assets in the Consolidated Balance Sheets. The Company’s investments at March 31, 2017 are being accounted for using the equity method as the investments are limited partnerships and the Company has an ownership interest in excess of 5% and, accordingly, the Company records its share of the investee’s operating results each period. Losses from non-marketable investments were $0.2 million during the three months ended March 31, 2017 and were insignificant during the three months ended March 31, 2016 and are included in losses on investments, net in the Consolidated Statements of Income. At December 31, 2016, the Company’s investments also included an investment with a book value of $0.4 million, which was accounted for using the cost method. This investment was fully liquidated during the three months ended March 31, 2017. During the three months ended March 31, 2017, distributions of $0.4 million were received from the funds. During the three months ended March 31, 2016, no distributions were received from the funds.

Reorganization

Reorganization	3 Months Ended
	Mar. 31, 2017
Restructuring And Related Activities [Abstract]
Reorganization	Note 5 — Reorganization In the first quarter of 2016, the Company implemented a reduction in its workforce of approximately 2% of its employees across various geographies and functions. The Company recorded $1.0 million of severance and related costs for this action during the three months ended March 31, 2016. All costs under this plan were paid during 2016.

Net Income Per Common Share

Net Income Per Common Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Net Income Per Common Share	Note 6 — Net Income Per Common Share Basic net income per common share is computed by dividing net income by the basic weighted average number of common shares outstanding during the period. Diluted net income per common share is computed by dividing net income by the diluted weighted average number of common shares and common equivalent shares outstanding during the period. The weighted average number of common equivalent shares outstanding has been determined in accordance with the treasury-stock method. Common equivalent shares consist of common stock issuable on the exercise of outstanding options and vesting of restricted stock units when dilutive. Basic and diluted weighted average common shares are as follows (in thousands): Three Months Ended March 31, 2017 2016 Basic weighted average common shares outstanding 18,230 17,762 Weighted average common equivalent shares 306 163 Diluted weighted average common shares outstanding 18,536 17,925 Share based awards excluded from diluted weighted average share calculation as effect would have been anti-dilutive 374 1,736

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Stockholders' Equity	Note 7 — Stockholders’ Equity Equity Plans Stock option activity for the three months ended March 31, 2017 is presented below (in thousands, except per share data and contractual term): Weighted - Weighted - Average Average Exercise Remaining Aggregate Number Price Per Contractual Intrinsic of Shares Share Term (in years) Value Outstanding at December 31, 2016 1,540 $ 34.35 Granted — — Exercised (63 ) 30.15 Forfeited (21 ) 33.86 Outstanding at March 31, 2017 1,456 $ 34.54 6.29 $ 7,605 Exercisable at March 31, 2017 856 $ 33.80 5.18 $ 5,094 Vested and expected to vest at March 31, 2017 1,456 $ 34.54 6.29 $ 7,605 Restricted stock unit activity for the three months ended March 31, 2017 is presented below (in thousands, except per share data): Weighted- Average Number of Grant Date Shares Fair Value Unvested at December 31, 2016 539 $ 35.50 Granted 11 39.55 Vested (4 ) 32.83 Forfeited (10 ) 35.29 Unvested at March 31, 2017 536 $ 35.61 Stock-Based Compensation Forrester recognizes the fair value of stock-based compensation in net income over the requisite service period of the individual grantee, which generally equals the vesting period. Stock-based compensation was recorded in the following expense categories (in thousands): Three Months Ended March 31, 2017 2016 Cost of services and fulfillment $ 1,197 $ 1,194 Selling and marketing 162 314 General and administrative 690 627 Total $ 2,049 $ 2,135 Forrester utilizes the Black-Scholes valuation model for estimating the fair value of shares subject to purchase under the employee stock purchase plan, which were valued using the following assumptions: Three Months Ended March 31, 2017 2016 Average risk-free interest rate 0.88 % 0.47 % Expected dividend yield 1.9 % 2.3 % Expected life 0.5 Years 0.5 Years Expected volatility 28 % 27 % Weighted average fair value $ 8.49 $ 7.06 Dividends In the three months ended March 31, 2017, the Company declared and paid a dividend of $0.19 per share or $3.5 million in the aggregate. In the three months ended March 31, 2016, the Company declared and paid a dividend of $0.18 per share or $3.2 million in the aggregate. In April 2017, the Company declared a dividend of $0.19 per share payable on June 21, 2017 to shareholders of record as of June 7, 2017. Treasury Stock As of March 31, 2017, Forrester’s Board of Directors had authorized an aggregate $485.0 million to purchase common stock under its stock repurchase program. The shares repurchased may be used, among other things, in connection with Forrester’s employee and director equity incentive and purchase plans. In the three months ended March 31, 2017, the Company repurchased approximately 0.6 million shares of common stock at an aggregate cost of approximately $21.5 million. The Company did not repurchase shares of common stock in the three months ended March 31, 2016. From the inception of the program through March 31, 2017, Forrester repurchased 15.6 million shares of common stock at an aggregate cost of $446.4 million.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Note 8 — Income Taxes Forrester provides for income taxes on an interim basis according to management’s estimate of the effective tax rate expected to be applicable for the full fiscal year. Certain items such as changes in tax rates and tax benefits or expense related to settlements of share-based payment awards are treated as discrete items and are recorded in the period in which they arise. Income tax benefit for the three months ended March 31, 2017 was $0.1 million resulting in an effective tax rate of (3)% for the period. Income tax expense for the three months ended March 31, 2016 was $1.1 million resulting in an effective tax rate of 46% for the period. Income tax expense decreased by $1.2 million during the three months ended March 31, 2017 compared to the prior year period due primarily to the recognition of a $1.3 million benefit from the settlement of a tax audit. For the full year 2017, the Company anticipates that its effective tax rate will be approximately 36%.

Operating Segments

Operating Segments	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Operating Segments	Note 9 — Operating Segments The Research segment includes the costs of the Company’s research personnel who are responsible for writing the research and performing the webinars and inquiries for the Company’s Research and Connect products. In addition, the research personnel deliver advisory services (such as workshops, speeches and advisory days) and a portion of the Company’s project consulting services. Revenue in this segment includes only revenue from advisory services and project consulting services that are delivered by the research personnel in this segment. The Product segment includes the costs of the product management organization that is responsible for product pricing and packaging and the launch of new products. In addition, this segment includes the costs of the Company’s Data, Connect and Events organizations. Revenue in this segment includes all revenue for the Company (including Research and Connect) except for revenue from advisory services and project consulting services that are delivered by personnel in the Research and Project Consulting segments. The Project Consulting segment includes the costs of the consultants that deliver the majority of the Company’s project consulting services. Revenue in this segment includes the project consulting revenue delivered by the consultants in this segment. The Company evaluates reportable segment performance and allocates resources based on segment revenues and expenses. Segment expenses include the direct expenses of each segment organization and exclude selling and marketing expenses, certain client support expenses, general and administrative expenses, stock-based compensation expense, depreciation expense, adjustments to incentive bonus compensation from target amounts, amortization of intangible assets, reorganization costs, other income (expense), and gains (losses) on investments. The accounting policies used by the segments are the same as those used in the consolidated financial statements. In the first quarter of 2017, the Company modified its internal reporting for the Research and Projecting Consulting segments to reflect the transfer of revenue and direct costs related to a small consulting team in Asia Pacific from Research to Project Consulting, and to remove from both Research and Project Consulting certain client support activities that are now included within selling, marketing, administrative and other expenses in the table below. Accordingly, the 2016 amounts have been reclassified to conform to the current presentation. Project Product Research Consulting Consolidated Three Months Ended March 31, 2017 Research services revenues $ 51,743 $ — $ — $ 51,743 Advisory services and events revenues 2,501 10,493 12,457 25,451 Total segment revenues 54,244 10,493 12,457 77,194 Segment expenses 9,227 12,143 5,854 27,224 Contribution margin (loss) 45,017 (1,650 ) 6,603 49,970 Selling, marketing, administrative and other expenses (46,643 ) Amortization of intangible assets (191 ) Reorganization costs — Other income (expense) and losses on investments (194 ) Income before income taxes $ 2,942 Project Product Research Consulting Consolidated Three Months Ended March 31, 2016 Research services revenues $ 53,248 $ — $ — $ 53,248 Advisory services and events revenues 2,701 10,377 11,075 24,153 Total segment revenues 55,949 10,377 11,075 77,401 Segment expenses 8,878 12,445 5,865 27,188 Contribution margin (loss) 47,071 (2,068 ) 5,210 50,213 Selling, marketing, administrative and other expenses (46,277 ) Amortization of intangible assets (209 ) Reorganization costs (1,015 ) Other income (expense) and losses on investments (328 ) Income before income taxes $ 2,384

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2017
New Accounting Pronouncements And Changes In Accounting Principles [Abstract]
Recent Accounting Pronouncements	Note 10 — Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (FASB) issued ASU No. 2014-09, Revenue from Contracts with Customers Revenue from Contracts with Customers: Principal versus Agent Considerations Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing , Revenue from Contracts with Customers: Narrow Scope Improvements and Practical Expedients Technical Corrections and Improvements: Revenue from Contracts with Customers In 2016, Forrester established a formal program and cross-functional implementation team to identify, design and implement changes to its accounting systems and policies, business processes and internal controls to support recognition and disclosures under the new standard. The Company estimates it is more than half way through its adoption analysis and significant completed activities to date include assessments of material, active contracts, performance obligations, standalone selling prices and transaction price allocation, revenue recognition timing and variable consideration. The Company does not anticipate that the standard will have a material impact on its results of operations. The number of performance obligations in the Company’s arrangements will not be different under the new standard than under current guidance. Determining standalone selling prices and allocating contract consideration on multiple element arrangements will not be different from the Company’s current methodologies of establishing fair value / estimated selling price for our goods and services or allocating total contract consideration under the relative selling price method. Additionally, the timing of revenue recognition will remain substantially unchanged for most products. Subscription based research services revenues will continue to be recognized over time, using the new standard’s output method of time elapsed, as Forrester’s clients receive and consume the benefits of our services as we transfer control throughout the contract period. Advisory, reprint and events revenues will continue to be recognized at the point in time as control is transferred to the customer, which will generally be when the client has physical possession of the good(s) or upon completion of the service(s). The Company expects that most of its consulting contracts will continue to be recognized over time, while some contracts may be required to be recognized at a point in time upon completion of the project. Key areas still in process include the evaluation of contract costs and the recording of contract assets and liabilities on the consolidated balance sheet. The adoption program and all remaining activities, including updates to the Company’s systems, processes, policies and controls, are expected to be completed in late 2017. The new standard will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The two permitted transition methods under the new standard are the full retrospective method, in which case the standard would be applied to each prior reporting period presented, or the modified retrospective method, in which case the cumulative effect of applying the standard would be recognized at the date of initial application. The Company has not yet determined its adoption methodology. Notwithstanding the Company’s current conclusions above, certain areas of the standard, as well as implementation issues, continue to be worked through by the various standard setting bodies. The Company’s implementation team continues to monitor industry activities and standard updates and will adjust its adoption plans based on any relevant guidance issued by the standard setters and regulators. In February 2016, the FASB issued ASU No. 2016-02, Leases In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other: Simplifying the Test for Goodwill Impairment

Interim Consolidated Financia17

Interim Consolidated Financial Statements (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for reporting on Form 10-Q. Accordingly, certain information and footnote disclosures required for complete financial statements are not included herein. The year-end balance sheet data was derived from audited financial statements, but does not include all disclosures required by accounting principles generally accepted in the United States of America. It is recommended that these financial statements be read in conjunction with the consolidated financial statements and related notes that appear in the Forrester Research, Inc. (“Forrester”) Annual Report on Form 10-K for the year ended December 31, 2016. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair statement of the financial position, results of operations, comprehensive income and cash flows as of the dates and for the periods presented have been included. The results of operations for the three months ended March 31, 2017 may not be indicative of the results for the year ending December 31, 2017, or any other period.
Fair Value Measurements	Fair Value Measurements The carrying amounts reflected in the Consolidated Balance Sheets for cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their short-term maturities. See Note 3 – Marketable Investments - for the fair value of the Company’s marketable investments.
Adoption of New Accounting Pronouncements	Adoption of New Accounting Pronouncements The Company adopted the guidance in Accounting Standards Update ("ASU") No. 2016-09, Compensation - Stock Compensation Improvements to Employee Share-Based Payment Accounting Additionally, ASU No. 2016-09 requires that all income tax effects related to settlements of share-based payment awards be reported in earnings as an increase or decrease to income tax expense (benefit). Previously, income tax benefits at settlement of an award were reported as an increase (or decrease) to additional paid-in capital to the extent that those benefits were greater than (or less than) the income tax benefits reported in earnings during the award's vesting period. The requirement to report those income tax effects in earnings has been applied on a prospective basis to settlements occurring on or after January 1, 2017, and the impact of applying this guidance was not material to the consolidated financial statements for the three months ended March 31, 2017. Application of this guidance may result in fluctuations in the Company’s effective tax rate depending on how many options are exercised, how many restricted stock units vest and the volatility of the Company’s stock price. ASU 2016-09 also requires that all income tax-related cash flows resulting from share-based payments be reported as operating activities in the statement of cash flows. Previously, income tax benefits at settlement of an award were reported as a reduction to operating cash flows and an increase to financing cash flows to the extent that those benefits exceeded the income tax benefits reported in earnings during the award's vesting period. In addition, the standard requires that cash paid by directly withholding shares for tax withholding purposes be classified as a financing activity in the statement of cash flows. For the three months ended March 31, 2017, the Company reflected $0.1 million of tax withholding in financing activities. resulting in an increase in operating cash flows, with a corresponding decrease in financing cash flows, of $39,000 for the three months ended March 31, 2016, The Company elected to early adopt the guidance in ASU No. 2016-16, Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory

Accumulated Other Comprehensi18

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss) are as follows (in thousands): Total Net Unrealized Cumulative Accumulated (Loss) on Marketable Translation Other Comprehensive Investments Adjustment Income (Loss) Balance at January 1, 2017 $ (83 ) $ (7,490 ) $ (7,573 ) Foreign currency translation — 790 790 Unrealized gain on investments, net of tax of $11 17 — 17 Balance at March 31, 2017 $ (66 ) $ (6,700 ) $ (6,766 ) Total Net Unrealized Gain Cumulative Accumulated (Loss) on Marketable Translation Other Comprehensive Investments Adjustment Income (Loss) Balance at January 1, 2016 $ (100 ) $ (4,726 ) $ (4,826 ) Foreign currency translation — 1,481 1,481 Unrealized gain on investments, net of tax of $76 117 — 117 Balance at March 31, 2016 $ 17 $ (3,245 ) $ (3,228 )

Marketable Investments (Tables)

Marketable Investments (Tables)	3 Months Ended
	Mar. 31, 2017
Investments Debt And Equity Securities [Abstract]
Summary of Company's Marketable Investments	The following table summarizes the Company’s marketable investments (in thousands): As of March 31, 2017 Gross Gross Amortized Unrealized Unrealized Market Cost Gains Losses Value Federal agency obligations $ 1,800 $ — $ (5 ) $ 1,795 Corporate obligations 58,723 1 (102 ) 58,622 Total $ 60,523 $ 1 $ (107 ) $ 60,417 As of December 31, 2016 Gross Gross Amortized Unrealized Unrealized Market Cost Gains Losses Value Federal agency obligations $ 1,800 $ — $ (7 ) $ 1,793 Corporate obligations 59,481 2 (129 ) 59,354 Total $ 61,281 $ 2 $ (136 ) $ 61,147
Summary of Maturity Periods of Marketable Investments	The following table summarizes the maturity periods of the marketable investments in the Company’s portfolio as of March 31, 2017 (in thousands). FY 2017 FY 2018 FY 2019 Total Federal agency obligations $ — $ 1,795 $ — $ 1,795 Corporate obligations 24,934 28,937 4,751 58,622 Total $ 24,934 $ 30,732 $ 4,751 $ 60,417
Summary of Gross Unrealized Losses and Market Value of Available-for-Sale Securities with Unrealized Losses	The following table shows the gross unrealized losses and market value of Forrester’s available-for-sale securities with unrealized losses that are not deemed to be other-than-temporary, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands): As of March 31, 2017 Less Than 12 Months 12 Months or Greater Market Unrealized Market Unrealized Value Losses Value Losses Federal agency obligations $ 1,795 $ 5 $ — $ — Corporate obligations 53,880 101 1,000 1 Total $ 55,675 $ 106 $ 1,000 $ 1 As of December 31, 2016 Less Than 12 Months 12 Months or Greater Market Unrealized Market Unrealized Value Losses Value Losses Federal agency obligations $ 1,793 $ 7 $ — $ — Corporate obligations 53,647 129 — — Total $ 55,440 $ 136 $ — $ —
Summary of Company's Fair Value Hierarchy for its Financial Assets	The following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and investments) measured at fair value on a recurring basis (in thousands): As of March 31, 2017 Level 1 Level 2 Level 3 Total Money market funds (1) $ 3,904 $ — $ — $ 3,904 Federal agency obligations — 1,795 — 1,795 Corporate obligations — 58,622 — 58,622 Total $ 3,904 $ 60,417 $ — $ 64,321 As of December 31, 2016 Level 1 Level 2 Level 3 Total Money market funds (1) $ 2,522 $ — $ — $ 2,522 Federal agency obligations — 1,793 — 1,793 Corporate obligations — 59,354 — 59,354 Total $ 2,522 $ 61,147 $ — $ 63,669 (1) Included in cash and cash equivalents.

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Weighted Average Common Shares	Basic and diluted weighted average common shares are as follows (in thousands): Three Months Ended March 31, 2017 2016 Basic weighted average common shares outstanding 18,230 17,762 Weighted average common equivalent shares 306 163 Diluted weighted average common shares outstanding 18,536 17,925 Share based awards excluded from diluted weighted average share calculation as effect would have been anti-dilutive 374 1,736

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Schedule of Stock Option Activity	Stock option activity for the three months ended March 31, 2017 is presented below (in thousands, except per share data and contractual term): Weighted - Weighted - Average Average Exercise Remaining Aggregate Number Price Per Contractual Intrinsic of Shares Share Term (in years) Value Outstanding at December 31, 2016 1,540 $ 34.35 Granted — — Exercised (63 ) 30.15 Forfeited (21 ) 33.86 Outstanding at March 31, 2017 1,456 $ 34.54 6.29 $ 7,605 Exercisable at March 31, 2017 856 $ 33.80 5.18 $ 5,094 Vested and expected to vest at March 31, 2017 1,456 $ 34.54 6.29 $ 7,605
Schedule of Restricted Stock Unit Activity	Restricted stock unit activity for the three months ended March 31, 2017 is presented below (in thousands, except per share data): Weighted- Average Number of Grant Date Shares Fair Value Unvested at December 31, 2016 539 $ 35.50 Granted 11 39.55 Vested (4 ) 32.83 Forfeited (10 ) 35.29 Unvested at March 31, 2017 536 $ 35.61
Summary of Stock-Based Compensation Expense Recorded in Expense Categories	Stock-based compensation was recorded in the following expense categories (in thousands): Three Months Ended March 31, 2017 2016 Cost of services and fulfillment $ 1,197 $ 1,194 Selling and marketing 162 314 General and administrative 690 627 Total $ 2,049 $ 2,135
Shares Subject to Employee Stock Purchase Plan Valuation Assumptions	Forrester utilizes the Black-Scholes valuation model for estimating the fair value of shares subject to purchase under the employee stock purchase plan, which were valued using the following assumptions: Three Months Ended March 31, 2017 2016 Average risk-free interest rate 0.88 % 0.47 % Expected dividend yield 1.9 % 2.3 % Expected life 0.5 Years 0.5 Years Expected volatility 28 % 27 % Weighted average fair value $ 8.49 $ 7.06

Operating Segments (Tables)

Operating Segments (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Schedule of Information about Reportable Segments	Project Product Research Consulting Consolidated Three Months Ended March 31, 2017 Research services revenues $ 51,743 $ — $ — $ 51,743 Advisory services and events revenues 2,501 10,493 12,457 25,451 Total segment revenues 54,244 10,493 12,457 77,194 Segment expenses 9,227 12,143 5,854 27,224 Contribution margin (loss) 45,017 (1,650 ) 6,603 49,970 Selling, marketing, administrative and other expenses (46,643 ) Amortization of intangible assets (191 ) Reorganization costs — Other income (expense) and losses on investments (194 ) Income before income taxes $ 2,942 Project Product Research Consulting Consolidated Three Months Ended March 31, 2016 Research services revenues $ 53,248 $ — $ — $ 53,248 Advisory services and events revenues 2,701 10,377 11,075 24,153 Total segment revenues 55,949 10,377 11,075 77,401 Segment expenses 8,878 12,445 5,865 27,188 Contribution margin (loss) 47,071 (2,068 ) 5,210 50,213 Selling, marketing, administrative and other expenses (46,277 ) Amortization of intangible assets (209 ) Reorganization costs (1,015 ) Other income (expense) and losses on investments (328 ) Income before income taxes $ 2,384

Interim Consolidated Financia23

Interim Consolidated Financial Statements - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Summary Of Significant Accounting Policy [Line Items]
Tax withholding in financing activities	$ 56,000	$ 25,000
ASU No. 2016-09 [Member]
Summary Of Significant Accounting Policy [Line Items]
Cumulative effect adjustment to increase or (reduce) retained earnings			$ 200,000
Tax withholding in financing activities	$ 100,000
Change in reclassification of tax withholding		$ 39,000
Early Adoption of ASU No. 2016-16 [Member]
Summary Of Significant Accounting Policy [Line Items]
Cumulative effect adjustment to increase or (reduce) retained earnings			$ (500,000)

Accumulated Other Comprehensi24

Accumulated Other Comprehensive Income (Loss) - Schedule of Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ (7,573)	$ (4,826)
Foreign currency translation	790	1,481
Unrealized gain on investments, net of tax	17	117
Ending Balance	(6,766)	(3,228)
Net Unrealized Gain (Loss) on Marketable Investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(83)	(100)
Unrealized gain on investments, net of tax	17	117
Ending Balance	(66)	17
Cumulative Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(7,490)	(4,726)
Foreign currency translation	790	1,481
Ending Balance	$ (6,700)	$ (3,245)

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Income (Loss) - Schedule of Components of Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Other Comprehensive Income Loss Tax Parenthetical Disclosures [Abstract]
Tax on Unrealized gain (loss) on investments	$ 11	$ 76

Marketable Investments - Summar

Marketable Investments - Summary of Company's Marketable Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 60,523	$ 61,281
Gross Unrealized Gains	1	2
Gross Unrealized Losses	(107)	(136)
Market Value	60,417	61,147
Federal Agency Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,800	1,800
Gross Unrealized Losses	(5)	(7)
Market Value	1,795	1,793
Corporate Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	58,723	59,481
Gross Unrealized Gains	1	2
Gross Unrealized Losses	(102)	(129)
Market Value	$ 58,622	$ 59,354

Marketable Investments - Summ27

Marketable Investments - Summary of Maturity Periods of the Marketable Investments (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
FY 2,017	$ 24,934
FY 2,018	30,732
FY 2,019	4,751
Total	60,417	$ 61,147
Federal Agency Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
FY 2,018	1,795
Total	1,795	1,793
Corporate Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
FY 2,017	24,934
FY 2,018	28,937
FY 2,019	4,751
Total	$ 58,622	$ 59,354

Marketable Investments - Summ28

Marketable Investments - Summary of Gross Unrealized Losses and Market Value of Available-for-Sale Securities with Unrealized Losses (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less Than 12 Months, Market Value	$ 55,675	$ 55,440
Available for sale securities, Less Than 12 Months, Unrealized Losses	106	136
Available for sale securities, 12 Months or Greater, Market Value	1,000
Available for sale securities, 12 Months or Greater, Unrealized Losses	1
Federal Agency Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less Than 12 Months, Market Value	1,795	1,793
Available for sale securities, Less Than 12 Months, Unrealized Losses	5	7
Corporate Obligations [Member]
Schedule of Available-for-sale Securities [Line Items]
Available for sale securities, Less Than 12 Months, Market Value	53,880	53,647
Available for sale securities, Less Than 12 Months, Unrealized Losses	101	$ 129
Available for sale securities, 12 Months or Greater, Market Value	1,000
Available for sale securities, 12 Months or Greater, Unrealized Losses	$ 1

Marketable Investments - Summ29

Marketable Investments - Summary of Company's Fair Value Hierarchy for its Financial Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	$ 64,321	$ 63,669
Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	3,904	2,522
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	3,904	2,522
Level 1 [Member] | Money Market Funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	3,904	2,522
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	60,417	61,147
Federal Agency Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	1,795	1,793
Federal Agency Obligations [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	1,795	1,793
Corporate Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	58,622	59,354
Corporate Obligations [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets on recurring basis	$ 58,622	$ 59,354

Non-Marketable Investments - Ad

Non-Marketable Investments - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Carrying value of the Company's non-marketable investments	$ 2,300,000		$ 2,800,000
Book value of investment			$ 400,000
Losses from non-marketable investments	200,000
Distributions received from funds	$ 400,000	$ 0
Limited Partnerships Investments [Member] | Minimum [Member]
Fair Value Investments Entities That Calculate Net Asset Value Per Share [Line Items]
Ownership interest of Company	5.00%

Reorganization - Additional Inf

Reorganization - Additional Information (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Restructuring And Related Activities [Abstract]
Percentage of workforce reduction	2.00%
Severance costs	$ 1

Net Income Per Common Share - S

Net Income Per Common Share - Schedule of Basic and Diluted Weighted Average Common Shares (Detail) - shares shares in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding	18,230	17,762
Weighted average common equivalent shares	306	163
Diluted weighted average common shares outstanding	18,536	17,925
Share based awards excluded from diluted weighted average share calculation as effect would have been anti-dilutive	374	1,736

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Stock Option Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2017USD ($)$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares, Outstanding at December 31, 2016 | shares	1,540
Number of Shares, Exercised | shares	(63)
Number of Shares, Forfeited | shares	(21)
Number of Shares, Outstanding at March 31, 2017 | shares	1,456
Number of Shares, Exercisable at March 31, 2017 | shares	856
Number of Shares, Vested and expected to vest at March 31, 2017 | shares	1,456
Weighted - Average Exercise Price Per Share, Outstanding, Beginning balance | $ / shares	$ 34.35
Weighted - Average Exercise Price Per Share, Exercised | $ / shares	30.15
Weighted - Average Exercise Price Per Share, Forfeited | $ / shares	33.86
Weighted - Average Exercise Price Per Share, Outstanding, Ending balance | $ / shares	34.54
Weighted - Average Exercise Price Per Share, Exercisable at March 31, 2017 | $ / shares	33.80
Weighted - Average Exercise Price Per Share, Vested and expected to vest at March 31, 2017 | $ / shares	$ 34.54
Weighted - Average Remaining Contractual Term, Outstanding at March 31, 2017	6 years 3 months 15 days
Weighted - Average Remaining Contractual Term, Exercisable at March 31, 2017	5 years 2 months 5 days
Weighted - Average Remaining Contractual Term, Vested and expected to vest at March 31, 2017	6 years 3 months 15 days
Aggregate Intrinsic Value, Outstanding at March 31, 2017 | $	$ 7,605
Aggregate Intrinsic Value, Exercisable at March 31, 2017 | $	5,094
Aggregate Intrinsic Value, Vested and expected to vest at March 31, 2017 | $	$ 7,605

Stockholders' Equity - Schedu34

Stockholders' Equity - Schedule of Restricted Stock Unit Activity (Detail) - Restricted Stock Units (RSUs) [Member] shares in Thousands	3 Months Ended
	Mar. 31, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Unvested at December 31, 2016 | shares	539
Number of Shares, Granted | shares	11
Number of Shares, Vested | shares	(4)
Number of Shares, Forfeited | shares	(10)
Number of Shares, Unvested at March 31, 2017 | shares	536
Weighted-Average Grant Date Fair Value, Unvested, Beginning Balance | $ / shares	$ 35.50
Weighted-Average Grant Date Fair Value, Granted | $ / shares	39.55
Weighted-Average Grant Date Fair Value, Vested | $ / shares	32.83
Weighted-Average Grant Date Fair Value, Forfeited | $ / shares	35.29
Weighted-Average Grant Date Fair Value, Unvested, Ending Balance | $ / shares	$ 35.61

Stockholders' Equity - Schedu35

Stockholders' Equity - Schedule of Stock-Based Compensation Recorded in Expense Categories (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total allocated share-based compensation expense	$ 2,049	$ 2,135
Cost of Services and Fulfillment [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total allocated share-based compensation expense	1,197	1,194
Selling and Marketing [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total allocated share-based compensation expense	162	314
General and Administrative [Member]
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total allocated share-based compensation expense	$ 690	$ 627

Stockholders' Equity - Shares S

Stockholders' Equity - Shares Subject to Employee Stock Purchase Plan Valuation Assumptions (Detail) - Employee Stock Purchase Plan [Member] - $ / shares	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average risk-free interest rate	0.88%	0.47%
Expected dividend yield	1.90%	2.30%
Expected life	6 months	6 months
Expected volatility	28.00%	27.00%
Weighted average fair value	$ 8.49	$ 7.06

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended
	Apr. 30, 2017	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend declared and paid per share		$ 0.19	$ 0.18
Aggregate dividend declared for the year		$ 3,500,000	$ 3,200,000
Dividend declared per share		$ 0.19	$ 0.18
Authorized to purchase of common stock under the stock repurchase program		$ 485,000,000
Repurchase of common Stock		600,000	0
Cumulative aggregate cost of repurchase of common stock		$ 21,500,000
Cumulative repurchase of common stock		15,600,000
Aggregate cost of repurchase of common stock		$ 446,400,000
Subsequent Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend declared per share	$ 0.19
Dividend payable, date declared	Jun. 21, 2017
Dividend payable, record date	Jun. 7, 2017

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2017
Income Taxes [Line Items]
Income tax expense (benefit)	$ (88)	$ 1,095
Effective income tax rate	(3.00%)	46.00%
Decrease in income tax expense	$ (1,200)
Benefit from settlement of tax audit	$ (1,300)
Anticipated [Member]
Income Taxes [Line Items]
Effective income tax rate			36.00%

Operating Segments - Schedule o

Operating Segments - Schedule of Information about Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Research services revenues	$ 51,743	$ 53,248
Advisory services and events revenues	25,451	24,153
Total revenues	77,194	77,401
Segment expenses	27,224	27,188
Contribution margin (loss)	49,970	50,213
Selling, marketing, administrative and other expenses	(46,643)	(46,277)
Amortization of intangible assets	(191)	(209)
Reorganization costs		(1,015)
Other income (expense) and losses on investments	(194)	(328)
Income before income taxes	2,942	2,384
Product Segment [Member]
Segment Reporting Information [Line Items]
Research services revenues	51,743	53,248
Advisory services and events revenues	2,501	2,701
Total revenues	54,244	55,949
Segment expenses	9,227	8,878
Contribution margin (loss)	45,017	47,071
Research Segment [Member]
Segment Reporting Information [Line Items]
Advisory services and events revenues	10,493	10,377
Total revenues	10,493	10,377
Segment expenses	12,143	12,445
Contribution margin (loss)	(1,650)	(2,068)
Project Consulting [Member]
Segment Reporting Information [Line Items]
Advisory services and events revenues	12,457	11,075
Total revenues	12,457	11,075
Segment expenses	5,854	5,865
Contribution margin (loss)	$ 6,603	$ 5,210